NYSE$ELV
Elevance Health Inc · Q4 2021 earnings
Q4 2021 earnings · · Investor relations
Briefing
Anthem reported strong financial performance with double-digit top and bottom line growth.
Anthem, Inc. reported fourth quarter and full year 2021 results reflecting strong financial performance, including double-digit top and bottom line growth. Fourth quarter operating revenue grew by 14.2% to $36.0 billion, and medical enrollment increased by 303 thousand members to 45.4 million members.
- Fourth quarter GAAP net income was $4.63 per share, including net negative adjustment items of $0.51 per share. Adjusted net income was $5.14 per share.
- Full year GAAP net income was $24.73 per share, including net negative adjustment items of $1.25 per share. Adjusted net income was $25.98 per share.
- Fourth quarter operating revenue grew by 14.2% over the prior year quarter to $36.0 billion.
- Medical enrollment increased by 2.4 million members year-over-year and 303 thousand members in the fourth quarter to 45.4 million members.
Headline financials
Revenue & EPS history
Elevance Health · Revenue · Quarterly
$36B
Revenue by segment
Elevance Health · $36.7B total across 1 segment · Q3 2023
- Health Benefits$36.7B—100.0%
Forward guidance
Full year 2022 GAAP net income is expected to be greater than $26.75 per share. Adjusted net income is expected to be greater than $28.25 per share.
Tailwinds
- GAAP net income is expected to be greater than $26.75 per share, including approximately $1.50 per share of net unfavorable items.
- Adjusted net income is expected to be greater than $28.25 per share.
- Medical membership is expected to be in the range of 45.6 - 46.2 million.
- Operating revenue is expected to be approximately $152 billion, including premium revenue of approximately $130 billion.
- Operating cash flow is expected to be greater than $6.9 billion.
Headwinds
- Benefit expense ratio is expected to be in the range of 88.0% plus or minus 50 basis points.
- SG&A ratio is expected to be 10.8% plus or minus 50 basis points.
- Investment income is expected to be $1.1 billion.
- Interest expense is expected to be $840 million.
- Effective tax rate is expected to be between 22.0 - 24.0%.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2021
-0.1%
Avg return
Earnings day
+0.8%
Avg return
5 days after
+2.4%
Avg return
30 days after
54%
25 / 46 earnings
Positive
+11.1%
Q4 2018
Best reaction
-15.0%
Q3 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +2.3% | +8.5% | +20.3% | |
| Q4 2025 | +5.1% | +5.9% | -0.9% | |
| Q3 2025 | -1.1% | -3.3% | -11.3% | |
| Q2 2025 | +0.3% | +6.0% | +5.9% | |
| Q1 2025 | +2.1% | +3.7% | -5.5% | |
| Q4 2024 | +2.9% | +3.8% | -1.4% | |
| Q3 2024 | -15.0% | -15.5% | -19.4% | |
| Q2 2024 | -8.7% | -8.9% | -1.7% | |
| Q1 2024 | +4.1% | +4.7% | +7.6% | |
| Q4 2023 | +1.8% | +3.0% | +8.9% | |
| Q3 2023 | -0.6% | -3.0% | -0.6% | |
| Q2 2023 | +7.2% | +6.2% | +4.3% | |
| Q1 2023 | -5.8% | -4.2% | -5.2% | |
| Q4 2022 | +3.6% | +2.2% | -0.1% | |
| Q3 2022 | +2.0% | +10.1% | +3.6% | |
| Q2 2022 | -7.6% | -5.3% | +1.2% | |
| Q1 2022 | +1.1% | -2.0% | -4.7% | |
| Q4 2021 | -0.8% | +0.4% | +3.3% | |
| Q3 2021 | +9.3% | +10.4% | +5.5% | |
| Q2 2021 | -1.4% | -2.9% | -3.1% | |
| Q1 2021 | -0.5% | -1.1% | +3.7% | |
| Q4 2020 | -3.8% | -6.4% | -3.0% | |
| Q3 2020 | -8.6% | -6.9% | +4.7% | |
| Q2 2020 | +4.5% | +2.1% | +4.5% | |
| Q1 2020 | +4.7% | +1.0% | +9.7% | |
| Q4 2019 | -8.4% | -8.2% | -11.4% | |
| Q3 2019 | -0.3% | +2.9% | +12.1% | |
| Q2 2019 | -2.9% | -1.4% | -13.9% | |
| Q1 2019 | +2.1% | +6.2% | +10.6% | |
| Q4 2018 | +11.1% | +11.6% | +12.8% | |
| Q3 2018 | +0.2% | +1.4% | +9.3% | |
| Q2 2018 | +0.4% | +2.5% | +7.8% | |
| Q1 2018 | +5.3% | +4.9% | +3.3% | |
| Q4 2017 | +0.2% | -5.3% | -4.3% | |
| Q3 2017 | +6.0% | +7.3% | +12.9% | |
| Q2 2017 | -3.7% | -2.3% | +1.1% | |
| Q1 2017 | +3.4% | +3.9% | +6.2% | |
| Q4 2016 | +2.3% | +1.7% | +7.7% | |
| Q3 2016 | +2.2% | +5.2% | +23.6% | |
| Q2 2016 | -3.4% | -7.3% | -9.2% | |
| Q1 2016 | -2.1% | — | — | |
| Q4 2015 | -8.2% | — | — | |
| Q3 2015 | -2.3% | — | — | |
| Q2 2015 | +0.4% | — | — | |
| Q1 2015 | -2.1% | — | — | |
| Q4 2014 | -0.5% | — | — | |
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